Photo Credit: Ronan_tlv via Compfight cc With the economy still at record lows and millions of Americans buried in debt, the IRS and many creditors are resorting to wage garnishments to collect their money. When can creditors garnish your wages?  In most cases, a creditor must sue you in court and win a money judgment […]

Everyone knows that credit score affects one’s ability to purchase a home. Higher credit scores mean lower mortgage interest rates. Many consumers have low credit scores as a result of unpaid medical expenses. These derogatory entries on a consumer’s credit report can affect a credit report, undesirably, by 100 points or more.   The current FICO model fails […]

Giving your kids an allowance is a great way to teach them about being financially responsible and how to save for the future. There are two main schools of thought about giving an allowance to kids…  they have to work for their allowance (chores) or an allowance is given without any stipulations, but extra money […]